Refer to table 4. At which price firm must shut-down? Table 4 Quantity (Q) Marginal costs...
Refer to table 4. At which price firm must shut-down?
|
Table 4 |
|||
|
Quantity (Q) |
Marginal costs (MC) |
Average variable costs (AVC) |
Average costs (AC) |
|
0 |
|||
|
1 |
28.00 |
28.00 |
$68 |
|
2 |
20.00 |
24.00 |
$44 |
|
3 |
16.00 |
21.33 |
$35 |
|
4 |
14.00 |
19.50 |
$30 |
|
5 |
12.00 |
18.00 |
$26 |
|
6 |
17.83 |
17.83 |
$25 |
|
7 |
24.00 |
18.43 |
$24 |
|
8 |
30.00 |
19.88 |
$25 |
|
9 |
40.00 |
22.11 |
$27 |
|
10 |
54.00 |
25.30 |
$29 |
Homework Answers
A firm shuts down at the price where P us equal to or less than AVC.P=MC in perfectly competitive market structure,so the firm will shut down at a price where MC=AVC,such that MC cuts AVC at its minimum,and this occurs at Q=6nd MC=17.83
Answer-$17.83
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Refer to table 4. At which price firm must shut-down?
Table 4
Quantity (Q)
Marginal costs...
Refer to table 4. How much is the total profit at equilibrium price =$30? Table 4...
Refer to table 4. How much is the total profit at equilibrium price =$30? Table 4 Quantity (Q) Marginal costs (MC) Average variable costs (AVC) Average costs (AC) 0 1 28.00 28.00 $68 2 20.00 24.00 $44 3 16.00 21.33 $35 4 14.00 19.50 $30 5 12.00 18.00 $26 6 17.83 17.83 $25 7 24.00 18.43 $24 8 30.00 19.88 $25 9 40.00 22.11 $27 10 54.00 25.30 $29
Table 4 illustrates the quantities, marginal costs, average variable costs, and average costs of a competitive...
Table 4 illustrates the quantities, marginal costs, average variable costs, and average costs of a competitive firm. Refer to table 4. How much is the unit profit at price =$30? [the problem is based on concepts in Module 5]. Table 4 Quantity (Q) Marginal costs (MC) Average variable costs (AVC) Average costs (AC) 0 1 28.00 28.00 $68 2 20.00 24.00 $44 3 16.00 21.33 $35 4 14.00 19.50 $30 5 12.00 18.00 $26 6 17.83 17.83 $25 7 24.00 18.43...
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that every warehouse supplies at least 25 tons to R.
There is a
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